HB3264 - 104th General Assembly (2025-2026)
INC TX-ABLE ACCOUNTS
Last Action
3/21/2025 - House: Rule 19(a) / Re-referred to Rules Committee
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Income Tax Act. Creates an income tax credit for contributions to an ABLE account. Provides that the credit shall be in an amount equal to 25% of that matching contribution, but not to exceed $500 per contributing employee per taxable year. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/06/2025 | House | Filed with the Clerk by Rep. Marcus C. Evans, Jr. |
| 2/18/2025 | House | First Reading |
| 2/18/2025 | House | Referred to Rules Committee |
| 3/11/2025 | House | Assigned to Revenue & Finance Committee |
| 3/13/2025 | House | To Income Tax Subcommittee |
| 3/21/2025 | House | Rule 19(a) / Re-referred to Rules Committee |